GORILLA GOLD MINES LTD — Management Reports 2009

Nov 29, 2009

Operations Review : MLI-MSA 2008 to 2009 30 November 2009

1

2

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Unacceptable Now aiming for
high residues 0.17 g/t
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3

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Recovery Improvements
•Tons
•Neutralisation
•Oxygen
Balance between
Recovery and Tonnage
High tons attracting
cost with high residues
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4

Z[AR/Kg]

Gold Price & FX rates

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320 000
1 155
1 130
1 105
300 000
1 080
1 055
1 030
280 000
1 005
980
955
260 000
930
&
905
U [SD/Oz ]
880
240 000
Z [AR/USD (x100)]
855
830
805
220 000
780
755
730 200 000
[08] [09]
C [T 08] C [T 09]
J [UN 08] A [UG] O D [EC 08] F [EB 09] A [PR 09] J [UN 09] A [UG] O D [EC 09]
ZAR/USD (x100) $/Oz ZAR/Kg
5
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30 November 09 6